v3.25.4
GOING CONCERN (AS RESTATED)
9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN (AS RESTATED)

NOTE 3 – GOING CONCERN (AS RESTATED)

 

The Company’s financial statements are prepared following accounting principles generally accepted in the United States of America, (“GAAP”) which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. The Company has an accumulated deficit of $39.2 million as of September 30, 2025. For the three and nine months ended September 30, 2025, The Company’s legacy HUSA business generated $225,678 from oil and gas related activities, and AGIG received grant income of $737,811. The term of Company’s grant ended effective March 31, 2025, and no further grant income is anticipated at this time. For the nine months ended September 30, 2025, the Company reported a net loss of $22.5 million and negative working capital of $4.0 million. No assurances can be given that the Company’s share price or that the volume of shares traded will be sufficient for the Company to be able to draw down sufficient funds under its ELOC Agreement to fund the Company’s working capital needs to implement its business plan. As a result, there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date the condensed consolidated financial statements are available to be issued.